Atria Wealth Solutions Inc. Raises Position in Primerica, Inc. (NYSE:PRI)

Atria Wealth Solutions Inc. increased its holdings in Primerica, Inc. (NYSE:PRI) by 41.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,148 shares of the financial services provider’s stock after purchasing an additional 338 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Primerica were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PRI. Strategic Financial Concepts LLC purchased a new position in Primerica in the 4th quarter worth $8,767,000. Geode Capital Management LLC increased its position in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the period. International Assets Investment Management LLC increased its position in shares of Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after acquiring an additional 25,182 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Primerica in the fourth quarter valued at about $5,236,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Primerica in the third quarter valued at about $5,073,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday. Truist Financial boosted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets started coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Primerica has a consensus rating of “Hold” and an average target price of $309.86.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.85% of the stock is currently owned by insiders.

Primerica Trading Up 2.0 %

Shares of PRI opened at $289.86 on Friday. The firm’s 50-day moving average price is $282.64 and its 200-day moving average price is $277.96. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 21.08 and a beta of 1.11. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.44%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is presently 30.25%.

Primerica declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.